Government Bond Markets Around The World Are Burning

Government bonds are selling off worldwide again today as Treasury yields rise – driven by expectations of Federal Reserve tapering of monetary stimulus – making U.S. bonds more attractive to others on a relative basis.

The worst performers in the developed world are, once again, some of the riskiest sovereign credits:

Greek 10-year yields are up 56 basis points to 10.45%
Portuguese 10-year yields are up 33 basis points to 6.30%
Spanish 10-year yields are up 30 basis points to 4.81%
Italian 10-year yields are up 27 basis points to 4.52%
However, core countries in the eurozone and other European safe havens are getting hit too:

French 10-year yields are up 12 basis points to 2.22%
German 10-year yields are up 9 basis points to 1.65%
Swiss 10-year yields are up 18 basis points to 0.90%
Swedish 10-year yields are up 14 basis points to 2.13%